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AbbVie (ABBV) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest trading session, AbbVie (ABBV - Free Report) closed at $144.73, marking a -1.03% move from the previous day. This move lagged the S&P 500's daily loss of 0.17%. Meanwhile, the Dow experienced a drop of 0.58%, and the technology-dominated Nasdaq saw an increase of 0.27%.
The the stock of drugmaker has fallen by 4.26% in the past month, leading the Medical sector's loss of 5.22% and undershooting the S&P 500's loss of 3.95%.
The investment community will be closely monitoring the performance of AbbVie in its forthcoming earnings report. The company is scheduled to release its earnings on October 27, 2023. It is anticipated that the company will report an EPS of $2.87, marking a 21.58% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $13.69 billion, indicating a 7.55% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.03 per share and a revenue of $53.56 billion, signifying shifts of -19.9% and -7.74%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for AbbVie. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.09% fall in the Zacks Consensus EPS estimate. AbbVie presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, AbbVie is currently exchanging hands at a Forward P/E ratio of 13.26. Its industry sports an average Forward P/E of 15.16, so one might conclude that AbbVie is trading at a discount comparatively.
We can additionally observe that ABBV currently boasts a PEG ratio of 2.65. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.75 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 240, which puts it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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AbbVie (ABBV) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, AbbVie (ABBV - Free Report) closed at $144.73, marking a -1.03% move from the previous day. This move lagged the S&P 500's daily loss of 0.17%. Meanwhile, the Dow experienced a drop of 0.58%, and the technology-dominated Nasdaq saw an increase of 0.27%.
The the stock of drugmaker has fallen by 4.26% in the past month, leading the Medical sector's loss of 5.22% and undershooting the S&P 500's loss of 3.95%.
The investment community will be closely monitoring the performance of AbbVie in its forthcoming earnings report. The company is scheduled to release its earnings on October 27, 2023. It is anticipated that the company will report an EPS of $2.87, marking a 21.58% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $13.69 billion, indicating a 7.55% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.03 per share and a revenue of $53.56 billion, signifying shifts of -19.9% and -7.74%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for AbbVie. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.09% fall in the Zacks Consensus EPS estimate. AbbVie presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, AbbVie is currently exchanging hands at a Forward P/E ratio of 13.26. Its industry sports an average Forward P/E of 15.16, so one might conclude that AbbVie is trading at a discount comparatively.
We can additionally observe that ABBV currently boasts a PEG ratio of 2.65. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Large Cap Pharmaceuticals industry stood at 1.75 at the close of the market yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 240, which puts it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.